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Hello, can you help me determine how to answer the below? I've gotten some of it complete. Shamrock, Inc. issues a $660,000,10%,10-year mortgage note on

Hello, can you help me determine how to answer the below? I've gotten some of it complete.

Shamrock, Inc. issues a $660,000,10%,10-year mortgage note on December 31, 2017, to obtain financing for a new building. The terms provide for annual installment payments of $107,412.

Prepare the entry to record the mortgage loan on December 31, 2017, and the first installment payment on December 31, 2018.

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Shamrock , Inc . 155LIES a $650, 0010 , 1096 , 10 - year mortgage note on December 3 1 , 2017 , to obtain financing for a new building . The terms provide for annual installment payments of $ 107 , 412 . Prepare the entry to record the mortgage loan on December 31 , 2017 , and the first installment payment on December 31 , 2018 . ( Credit account titles are automatically indented when amount is entered . Do not indent manually . ) Date Account Titles and Explanation Debit Credit DEC . 31 , 2017 5.50OOD DEC . 31 , 2018 Cash 107412

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